On June 16, 2020, the Small Business Administration (SBA) released the revised loan forgiveness application as a result of the Paycheck Protection Program Flexibility Act (PPPFA), improving limitations of the original program that did not benefit the small business community. These long-awaited revisions eased some restrictions for borrowers and have improved upon the amount of forgivable principal, but a trusted advisor is needed to review these complex calculations. In order to get to that full loan forgiveness, recipients must navigate a process with intricate rules and difficult calculations, and any forgiveness application errors, documentation missteps, and other lapses mean exposure: A risk of leaving some PPP loan forgiveness on the table.
Topics to be discussed include:
- Overall revisions to the new PPP loan forgiveness application
- Considerations of eligible payroll and non-payroll costs
- Calculation of FTEs, salary computations, rehire exemptions, and safe harbor provisions
- Updates to the forgiveness calculation
- The importance of good governance and benefits of an Agreed-Upon Procedure (AUP)
Please note the webinar will be played through your web browser. Speakers or a headset is required.
Recorded on June 19, 2020